The Federal Reserve speeds up its quantitative tightening, and this is certainly bullish news for the USD. At the same time, this is a negative factor for the American stocks, which have entered their seasonally worst month.
EUR/USD: forecast for July 24-28
The market’s reaction to the European Central Bank’s press conference was rather surprising. Despite the fact that the ECB President Mario Draghi gave little information about the regulator’s next move, market players believed that the ECB might reduce its monetary stimulus program in autumn. According to Draghi, the ECB didn’t set any exact date for discussing the changes to this program, but policymakers would revisit the topic in the autumn. All in all, traders perceived that the ECB is not really concerned with low inflation and high euro. This creates bullish fundamentals for the single currency.
Similar
The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.
After last week's CPI turned the markets upside down, we are looking at the performance of the US dollar…
Latest news
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.